(Alliance News) - The UK Gambling Related Harm All-Party Parliamentary Group on Monday called for stricter online betting controls, including stake and deposit limits.
In its interim report into the online gambling sector, the cross-party group said concerns were raised "about the lack of action from the government and the Gambling Commission".
The key recommendations of the report include the introduction of gambling legislation with a focus on harm prevention, and online stake and prize limits.
"The report finds no justification for online slot machine style games with staking levels above GBP2, as it is offline," the GRH APPG said.
The Gambling Commission needs to "urgently improve its standards" with regards to online gambling, and there is an "urgent need" to ban the use of credit cards to gamble online.
"This report highlights the urgent need for a root and branch review of the regulation of online gambling. Stakes and prize limits online would be a major step forward in reducing the harm caused by the sector. It is not at all clear why the Gambling Commission is not looking at this as a matter of urgency. It is an abdication of its responsibility as a regulator," said GRH APPG Chair Carolyn Harris, MP for Swansea East.
London-listed betting firms were lower on Monday.
Flutter Entertainments, formerly known as Paddy Power Betfair, was down 2.2% at 8.026.00 pence. Ladbrokes owner GVC Holdings was down 8.9% at 817.80p, William Hill down 7.5% at 186.70p, and 888 Holdings down 4.6% at 171.80p.
By Lucy Heming; lucyheming@alliancenews.com
Copyright 2019 Alliance News Limited. All Rights Reserved.
888 Holdings (888)
Flutter Entertainment (FLTR)
